Triplex on Corner
For Sale
$789,000
14 Lakeshore Drive, Belgrade, ME 04917
Commercial Sale, Belgrade, ME
Property Size4,500 SF
Lot Size3.28 Acres
Price / SF$175.33
Days on Market39
Property Features for 14 Lakeshore Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Basement
Unfinished, Sump Pump, Full
Lot features
Business District, Historic District, Near Shopping, Rural
Standard status
Active
Size
4,500 SF
Lot size
3.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5832
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Natural Gas, Oil, Baseboard, Hot Water(Heating), Forced Air
Water source
Private, Well
Water front features
Waterfront
Water front
1
Amenities
deeded common lot to Long Pond
Building Details
Year built
1973
Flooring type
Concrete, Laminate, Carpet, Wood, Vinyl, Tile
Building materials
Mobile, Wood Frame, Aluminum Siding, Wood Siding, Other Exterior
Roof type
Shingle, Metal
Listing Agency:
Century 21 Nason Realty · Century 21 Real Estate
(207) 873-2119
Listed By:
Kim Moxcey
(207) 242-2674
Added: Jul 15
Changed: Aug 19
Last Checked: Aug 22 at 4:06PM
MLS# 1658216
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Triplex-style building on a large corner lot at 14 Lakeshore Drive in Belgrade, ME. The property includes an attached commercial space plus three apartments in the main building, along with a rented mobile home on the lot. An office area is located off of the garage, and the offering notes the approximate square footage is for the entire building (not just the commercial portion).
The site also includes a deeded common lot to Long Pond, described as a short walk away. Parking is off street, and the building features a mix of interior flooring materials including vinyl, carpet, tile, wood, laminate, and concrete. Heating options listed include oil, forced air, hot water (heating), baseboard, and natural gas. Water is provided via private and well sources, and sewer is via private sewer and a septic tank.
Construction is noted as wood frame with aluminum and wood siding, with metal and shingle roofing. The property was built in 1973, and the remarks reference this as the former Belgrade Hotel site, lost in 1956.
The site also includes a deeded common lot to Long Pond, described as a short walk away. Parking is off street, and the building features a mix of interior flooring materials including vinyl, carpet, tile, wood, laminate, and concrete. Heating options listed include oil, forced air, hot water (heating), baseboard, and natural gas. Water is provided via private and well sources, and sewer is via private sewer and a septic tank.
Construction is noted as wood frame with aluminum and wood siding, with metal and shingle roofing. The property was built in 1973, and the remarks reference this as the former Belgrade Hotel site, lost in 1956.
Key Highlights
- 3.28‑acre corner lot with three apartments plus a rented mobile home on‑site
- Approx. 4,500 SF for the entire building (not just the commercial space)
- Deeded common lot to Long Pond, described as a short walk away
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,005,080
$1.0M
Cap Rate 7%
$717,914
$717.9K
Cap Rate 9%
$558,378
$558.4K
Market Conditions
NOI Build-Up for 4,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.9K $16.20/SF
− Vacancy
−$1.1K −$0.25/SF
EGI
$71.8K $15.95/SF
− OpEx
−$21.5K −$4.79/SF
NOI
$50.3K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,005,080
Cap Rate 7%
$717,914
Cap Rate 9%
$558,378
Alternative Uses
Best Use
Multifamily LT 5
$717.9K
$628.2K – $837.6K
NOI $50,254 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$626.2K
$548.0K – $730.6K
NOI $43,837 @ 7.0% cap · market cap 5.56%
Theoretical Best
Warehouse
$6.71M
$5.87M – $7.83M
NOI $469,949 @ 7.0% cap · market cap 59.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 04917, ME
3,259
Population
2,261
Households
1.4
Avg Household Size
49
Median Age
46%
College-Educated
98%
High-School Grad
42.7 sq mi
ZIP Area
76
Density / Sq Mi
$86,021
Median Household Income
$41,846
Median Earnings
$868
Median Rent
$304,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex-style property on a large corner lot with three apartments, an on-site rental mobile home, and waterfront access.
Where is this triplex located?
The property is located at 14 Lakeshore Drive Belgrade, ME.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 3.28‑acre corner lot with three apartments plus a rented mobile home on‑site; Approx. 4,500 SF for the entire building (not just the commercial space); Deeded common lot to Long Pond, described as a short walk away
